Tale of the Tape
Good evening folks. Happy hump day. We hope you’re all getting some 🤣
After morning weakness, stocks rallied with gusto as they do during rollicking bull markets.
The S&P 500 closed up 1.7% even as select components of the FAANG Complex faded.
Stonks don’t seem to care if we’re overbought or due for a healthy pullback and they definitely don’t care about the Doubting Debbie Downers on your screens.
All sectors closed up 1% or more except Energy which fell 0.5%. Looser. lol!
Even the US Dollar Index managed a bounce albeit a weak one, gaining 0.38% since you asked. Gold fell 1% and Bitcoin got bullied down 5%.
Twitter had its best day in a while, gaining 6% for its highest close YTD. What a blessing for the Tweeters.
Tesla fell 6%, proving once and for all, that even the most steadfast delusions must pause for reality now and again.
Apple took a breather too, down 2%, while Netflix chilled, down 0.67%.
Here’s your closing prices on the major equity indices:
| S&P 500 | 3,580 | +1.54% |
| Nasdaq | 12,056 | +0.98% |
| Russell 2000 | 1,592 | +0.87% |
| Dow Jones | 29,100 | +1.59% |
Earnings Round-Up
Macy’s reported earnings this morning. Here are the numbers:
EPS: ($0.81) vs ($1.80) est.
Revenue: $3.56B -35.9% YoY
$M cited strong growth in its online business. Apparently, online shopping is here to stay.
The stock finished the day flat. Yawn…
Read the press release here.
CrowdStrike Holdings, Inc.
EPS: $0.03 vs ($0.01) est.
Revenue: $199M +84.1% YoY
$CRWD -5% AH.
Read the press release here.
MongoDB, Inc.
Here’s what Chief Executive Dev Ittycheria had to say,
MongoDB’s strong second-quarter performance reflected impressive sales execution and the growing strategic importance of our modern data platform in solving many of our customers’ most complex digital transformation challenges.
EPS: ($0.22) vs ($0.40) est.
Revenue: $138.3M +39.2% YoY
$MDB +3% AH.
Read the press release here.
Skillz – 100 Years of SPAC
Are SPACs getting long in the tooth here?
Nah!
The growing trend to public markets via SPAC can continue much longer than anyone expects and why not?
It solves a problem and cuts out the investment banks – poor babies.
Enter Skillz – the first eSports name going public via SPAC merger with Flying Eagle Acquisition.
$FEAC was up 27% on the news. Damn.
Skillz is a mobile gaming platform that connects gamers around the world. It also hosts a marketplace for game developers to promote their businesses.
Sounds hawt.
Check out Skillz CEO roadshowing it on CNBC this AM and getting all “we’re building a 100 year company,” which you gotta love…
DraftKings 🐐
DraftKings announced that basketball great and degenerate gambler, Michael Jordan, will join the squad.
It’s a match made in heaven. A Gambler’s Paradise 🤣
Jordan will take an equity stake in the company in return for providing guidance to the board of directors.
DraftKings CEO and co-founder Jason Robins had this to say:
Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur. The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.
On the news, $DKNG had its largest volume day ever.
The stock closed up 8%. Here’s the daily chart.
Get That Popcorn
AMC announced it will reopen 70% of their US theaters before the release of Christopher Nolan’s Tenet, slated to premiere tomorrow!
News of the reopening lifted AMC shares 27% this morning, up 250% from the April 13 low.
Tickets will cost 15 cents this weekend to honor the company’s first ever ticket prices in 1920.
Find AMC’s safety guidelines for reopening during COVID here.
Up, Up & Away
This morning, 52 helium balloons carried daredevil David Blaine 30,000 feet up into the Arizona sky.
Blaine live streamed his “Ascension” stunt today on Youtube before parachuting 4.7 miles back to the ground. The famous stunt man and magician soared 8,000 feet before strapping on his parachute. SMH 🤦♀️
When asked for commentary, the man who previously froze himself in a block of ice and buried himself alive had this to say:
Wow! That was awesome!
Earnings This Week
Be sure to know when your stocks report earnings. Here’s the full earnings calendar.
Links That Don’t Suck
🌌 Stocktwits After-Hours: Tech. Did. Not. Lead.
Listen Here: Spotify | Apple
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🏀 Nikola Jokic’s game-winning Game 7 shot seals NBA history as Nuggets overcome Jazz, 3-1 deficit
🏡 Airbnb Rebuffs Approach From Bill Ackman’s SPAC
📺 The Return of Live Sports Brings in Viewers, and Brings Hope for Linear TV
🇨🇳 How Disney Enlisted ‘Mulan,’ a $200 Million Folktale, to Court China
